Waterloo Capital L.P. Lowers Stock Holdings in ONEOK, Inc. $OKE

Waterloo Capital L.P. cut its holdings in ONEOK, Inc. (NYSE:OKE) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 37,307 shares of the utilities provider’s stock after selling 2,686 shares during the period. Waterloo Capital L.P.’s holdings in ONEOK were worth $3,045,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OKE. Brighton Jones LLC lifted its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of ONEOK by 3.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 72,140 shares of the utilities provider’s stock worth $7,158,000 after acquiring an additional 2,166 shares during the period. Burney Co. boosted its position in shares of ONEOK by 4.3% in the first quarter. Burney Co. now owns 6,900 shares of the utilities provider’s stock worth $685,000 after acquiring an additional 285 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in shares of ONEOK by 19.7% in the 1st quarter. Carnegie Investment Counsel now owns 13,236 shares of the utilities provider’s stock valued at $1,313,000 after purchasing an additional 2,177 shares during the last quarter. Finally, Brookwood Investment Group LLC acquired a new stake in shares of ONEOK during the 1st quarter worth $404,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In related news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a report on Wednesday. Finally, Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.27.

ONEOK Stock Up 1.1%

Shares of NYSE OKE opened at $70.52 on Friday. The firm has a market cap of $44.37 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The stock’s 50-day simple moving average is $70.09 and its 200-day simple moving average is $76.19.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.8%. ONEOK’s payout ratio is presently 75.74%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.